139

128

3. changing or advancing the bond dates for Series A and B bonds from September 1, 1961 to September 1, 1962 and designating the bonds as "University of North Carolina Student Apartment Revenue Bonds of 1962, Series A and B", with corresponding changes in designation of accounts and, as for Series A only, corresponding changes or advances in dates of maturities, redemptions and bid blocks; and, as for Series B only, corresponding changes in the bond numbers under the redemption provisions of the Loan Agreement to reflect the elimination of the 1962 maturities of $29,000; and

WHEREAS, it is necessary that the Bond Resolution be amended as hereinafter provided in order to conform to the provisions of said Waiver and in order to make certain other changes deemed by the Board to be desirable; now, therefore,

BE IT RESOLVED by the Board of Trustees of The University of North Carolina:

Section 1. That the title of the Bond Resolution be and the same is hereby amended to read as follows:

"A RESOLUTION AUTHORIZING THE CONSTRUCTION OF THIRTEEN STUDENT APARTMENT BUILDINGS, WITH APPURTENANT FACILITIES, AT THE UNIVERSITY OF NORTH CAROLINA, IN CHAPEL HILL; AUTHORIZING THE ISSUANCE OF $1,000,000 UNIVERSITY OF NORTH CAROLINA STUDENT APARTMENT REVENUE BONDS OF 1962, SERIES A, OF THE BOARD OF TRUSTEES OF THE UNIVERSITY OF NORTH CAROLINA TO PROVIDE FUNDS, WITH OTHER AVAILABLE FUNDS, FOR PAYING THE COST THEREOF, AND $1,942,000 UNIVERSITY OF NORTH CAROLINA STUDENT APARTMENT REVENUE BONDS OF 1962, SERIES B, OF SAID BOARD OF TRUSTEES FOR THE PURPOSE OF REFUNDING A LIKE PRINCIPAL AMOUNT OF UNIVERSITY OF NORTH CAROLINA STUDENT APARTMENTS REVENUE BONDS, SERIES 1958, OF SAID BOARD OF TRUSTEES; PROVIDING FOR THE PAYMENT OF SAID BONDS AND THE INTEREST THEREON FROM REVENUES; AND SETTING FORTH THE RIGHTS AND REMEDIES OF THE HOLDERS OF SAID BONDS. "

Section 2. That the fifth preamble of the Bond Resolution be and the same is hereby amended to read as follows:

"WHEREAS, there is a serious shortage of housing facilities at the University and there is an urgent and immediate need for the construction at said institution of thirteen new apartment buildings, with appurtenant facilities, to house approximately 84 married student families (hereinafter sometimes called the 'Project'), and the Board has determined to proceed with the construction of the Project with all practicable dispatch; and".

Section 3. That the sixth preamble of the Bond Resolution be and the same is hereby amended to read as follows:

"WHEREAS, the Board has heretofore issued its University of North Carolina Student Apartments Revenue Bond, Series 1958, No. T-1 (hereinafter sometimes called the '1958 bond'), in the principal amount of $2,000,000, for the purpose of providing funds for paying the cost of thirty-four apartment buildings, with appurtenant facilities, to house approximately 222 students (hereinafter sometimes collectively called the '1958 Facilities'), at the University, which bond is a temporary bond without coupons, registered as to both principal and interest in the name of The United States of America, Housing and Home Finance Administrator